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Secured Mastercard® from Capital One®

  • Regular Purchase APR   26.99% variable based on the Prime Rate
  • Balance Transfer APR  26.99% variable based on the Prime Rate
  • Cash Advance APR  26.99% variable based on the Prime Rate
  • Annual Fee  None
  • Credit Needed  Fair , Poor , No Credit Required
  • Processing Network Mastercard

Best Benefits
  • Pick your own monthly due date and payment method—check, online or at a local branch
  • Make the minimum required security deposit and you'll get an initial credit line of $200.
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • $49, $99 or $200 refundable deposit based on your creditworthiness
  • Deposit more money before your account opens to get a higher credit line
Rates & Fees
     Intro Purchase APR: N/A
     Regular Purchase APR: 26.99% variable based on the Prime Rate
     Intro Balance Transfer APR: N/A
     Balance Transfer APR: 26.99% variable based on the Prime Rate
     Balance Transfer Transaction Fee: None
     Cash Advance APR: 26.99% variable based on the Prime Rate
     Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
     Penalty APR: N/A
     Annual Fee: None
     Foreign Transaction Fee: None
     Late Payment Penalty Fee: Up to $38
     Return Payment Penalty Fee: None
     Over Limit Penalty Fee: None
     Minimum Deposit Required: $49, $99, or $200 based on your creditworthiness
     Credit Needed: Fair , Poor , No Credit Required

 

At a Glance

The Secured Mastercard® from Capital One® is a useful tool for building credit, so long as you make the required security deposit and follow through with the responsible behavior that credit bureaus tend to look for. You can also gain access to a higher credit line after making your first 5 monthly payments on time, sans any further security deposits.

The Gist

Getting your credit score off the ground isn’t a complicated endeavor when you use the Secured Mastercard® from Capital One®. After making a $49, $99 or $200 refundable deposit based on your creditworthiness, cardholders will get an initial $200 credit line that will increase in as little as 5 months so long as they make their first 5 payments on time. Other conveniences offered by the Secured Mastercard® from Capital One® include no foreign transaction fee, no balance transfer fee, and no annual fee. Individuals carefully watching their spending habits, as one should be when applying for this card, can also rely on the card’s included price protection benefits and 24/7 online account management via mobile devices or their app.

Overall, the Secured Mastercard® from Capital One® might not be the most exciting secured card, but it is a valuable tool for building credit when used correctly.

Apply for This Card if You:

  • Want to quickly build your credit using a secured card
  • Do not want to pay annual fees or foreign transaction fees
  • Want a Capital One card accepted at millions of locations worldwide

 

Editorial Disclosure — The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.

Published: September 1, 2019 10:08 am

Advertiser Disclosure – BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.